Table of contents

S.NO. Contents Page No.

1 Introduction of the Topics. 1

Objective of study 8

Scope of study 8

Methodology 9

2 Introduction to GST 11

Meaning, definitions, features of GST. 12

Benefits of GST 13

Opportunities Of GST. 15

Impact of GST in different Sectors. 17

Importance 19

SWOT Analysis 21

Registration eligibility criteria 23

GSTN 25

Registration procedure 26

GST Rate Slab for essential items 41

Trending news 45

1
2 Company Profile 47

3 Result Analysis 48

4 Conclusion 51

5 Reference 53

2
 Training Report and Dissertation On

“A STUDY ON WORKING OF GST REGISTRATION”

A Training Report Submitted In Partial Fulfillment of the Requirements the

Degree of

BACHELOR OF COMMERCE [Hons.]

By

ABHISHEK KUMAR
(ROLL No.171141132003)

Under the Supervision of

Prof. (Dr.) C.B. Singh

(Head of the Dept. & Dean Faculty of Arts)

INSTITUTE OF BANKING,ECONOMICS &FINANCE BUNDELKHAND

UNIVERSITY JHANSI
2019-2020

3
 INSTITUTE OF BANKING, ECONOMICS AND

FINANCE, BUNDELKHAND UNIVERSITY, JHANSI

CERTIFICATE

This is to certify that the Summer Training Report entitled “A Study on the Working of
Goods And Service Tax (GST) Registration”, in partial fulfillment of the requirements for
the award of the Degree of Bachelor of commerce is a record of original training undergone
by Abhishek Kumar (171141132003) during the year 2019-20 of his study in the
Institute of Economic & Finance, Bundelkhand University, Jhansi under my supervision.

Prof. (Dr.) C.B. Singh

(Head of the Dept. & Dean Faculty of Arts)
DATE (Institute of Economics and Finance,
Bundelkhand University, Jhansi)

4
 DECLARATION

I Abhishek Kumar, hereby declare that the Summer Training Report, entiled “A Study
on the Working of Goods And Service Tax (GST) Registration” , submitted to the
Institute of Economics & Finance, Bundelkhand University in partial fulfillment of the
requirements for the award of the Degree of Bachelor of Commerce is a record of
original training undergone by me during the period July 2019 under the supervision
and guidance of Prof.(Dr.) C.B Singh, ( Head of the Dept. & Dean Faculty of Arts)
Institute of Economics and Finance, Bundelkhand University, Jhansi.

I further declare that it has not been previously submitted to any other
Institution/University for any other degree/diploma.

Date:

Place: ABHISHEK KUAMR

(B.COM. HONS)

5
 ACKNOWLEDGEMENT

Every successful work is not completed without the help and support of the people
around us. A success is shared by not an individual but in fact by the people who
constantly help him and guide him in his work. Through this I want to express my
gratitude towards all those who have directly or indirectly contributed in my journey.

I am greatly thankful to Prof. (Dr.) C.B Singh (Head of the Dept. & Dean Faculty of
Arts) Institute of Economics and Finance, who gave us the valuable opportunity of
involving ourselves in such project assignments.

I am greatly thankful to my company guide Mr ABHAY PRATAPfor his kind support

and help during this eight weeks of my summer training and in completion of my
target. I wish to express my deep sense of gratitude towards Abhay pratap &
Associates for their help and valuable guidance in conducting this summer internship
project from its conception to its completion.

I would also like to thanks our faculty for their ever-inspiring guidance about the
summer training.

Thank You

6
 CHAPTER-1

INTRODUCTION

Background

Internship is the process of working as an assistant to gain

practical experience and skills in an occupation. In order to expose
the students to the actual working environment, internship has been
included as a compulsory requirement for the successful completion of
Three-year B.COM (HONS.) under Bundelkhand University. B.COM
(HONS.) is a management program with the provision of four semester
comprising of three weeks industrial training.

Internship is an opportunity to observe, learn and understand the

corporate culture, acquire knowledge and skills in the respective field
which helps the students in their further carrier development

Internship provides the opportunity to understand how the knowledge

acquired through the lectures, group discussion and formal study is
applied in real working situation. It is the best way of knowledge
gaining as it provides as experience. Similarly the assigned
responsibilities during the internship period help to enhance the
interpersonal and communicative skills and boost up the confidence
level as well.

Even though the interns are not the employees of the organizations,
they are given an opportunity to work as if they are the employees.
The interns do what the staffs of the organizations have to do. However,
they do not have obligations or authority over anything.

The interne did his internship in under M/s ABHAY PRATAP &

ASSOCIATES JHANSI.
The interne was given the opportunity to observe and learn about GST .

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Objectives of the Study

The general objective of the study is to get practical insights of

Goods and Services Tax . The specific objectives are as follows :
a. To learn about the GST Registration process.

b. To learn how to file GST online .

c. To help clients in the Registration process.

d. To help clients in downloading the offline software.

Rational of the study

In college we learn the organizational structure only in theoretical

basis. Internship is the place where how theoretical knowledge are
useful in real life scenarios. For that students need to prepare
resumes, write cover letters and go through interviews as if they
were applying for the job. This gives students valuable experience in
preparation for employment. The internship allows opportunities for
the development of practical’s skills in contexts where professional
criticism is both immediate and constructive. It also furnishes
students with opportunities to observe and understand connections
between coursework and skills needed to perform effectively in a
given profession. Finally, internship aid in the identification of
knowledge and skills essential to doing well in a particular profession.

Scope of the study

Generally, an internship consists of an exchange of services for

experience between the student and an organization Internship
program is a good opportunity to show our learning skills that we
get from our school/college. Students can also use an internship to
determine if they have an interest in a particular career. It helps to build
Curriculum Vitae (CV) for the student.

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Methodology

For the preparation of this report both primary and secondary sources
of data are used. The secondary data are collected from annual
reports, brochures, website of GST, different financial magazine,
published documents. Most of the information in this report is
written on the basis of experience gained by the internee in the company
during the period of internship.

While preparing this report I took help from company staff and
group discussion with friends. I have consulted related departmental
staff as a primary source. For the secondary data I used gst website,
cbec website, financial express website, clear tax website.

Organization Selection
Selection of the organization is one of the most difficult task.
However the specialization of the student in finance has made GST
a better option for doing internship. Since GST is related to financial
transaction, it would be easy to understand various dimensions related
to services like registration, . Besides this, one should have strong
reference to get enrollment in the organizations. So because of
the reference of the college, M/S Abhay Pratap & Associates has
been selected for internship on 05-06-2019.

Duration
The duration of internship period has been defined for 7 weeks by
the Bundelkhand University. The intern has completed internship from

05th June to 31st July in M/s Abhay Pratap & Associates.

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Limitations of the Study

Even though great support was provided by the organization and the
staff to the intern during the internship period to make the work
environment conducive, they had to face variours difficulties during the
internship period. Due to various unavoidable constraints, the
report could not do complete justice to the study.

The interns in the organization are more focused to assist their

supervisors. It restricts the amount of information and the level of
complex work assigned to its interns owing to the confidentially and
competency issues. It is because of this interns get to learn mostly by
observation and some amount of discussion with supervisor only. The
report is limited to the department in which the intern is placed it might not
be able to provide the comprehensive knowledge of the overall
functioning of the company.

10
 Introduction Of GST

The reference of GST was first made in the Indian Budget in 2006-07 by
the Finance Minister Mr. P. Chidambaram as a single centralized Indirect

tax. The GST constitution (122nd) Amendment Bill 2014 was introduced on
December 19, 2014 and passed on May 06, 2015 in the lok sabha and yet
to be passed in the Rajya Sabha.

The bill seeks to amend the constitution to introduce Goods and Services
tax vide proposed new article 246 A. This article gives power to Legislature
of every state and parliament to make laws with respect to goods and
services tax where the supplies of goods or of service take place. Recently,
Union Minister Mr. Arun Jaitley said that GST could be implemented as
early as January 1, 2016.

Note: The word bill may be interpreted as the constitution (122nd)

Amendment Bill 2014.

Exempted categories – 0

Commonly used Goods and Services – 5%

Standard Goods and Services fall under 1st slab – 12%

Standard Goods and Services fall under 2nd Slab – 18%

Special category of Goods and Services including luxury - 28%

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Meaning of Goods and Service Tax (GST)

Clauses 366 (12A) of the constitution Bill defines GST as “goods and service tax”
means any tax on supply of goods, or services or both except taxes on the supply of
the liquor for human consumption. Further the clause 366 (26A) of the Bill defines
Services means anything other than Goods.

Thus it can be said that GST is a comprehensive tax levy on manufacture,

sale and consumption of goods and services at a national level. The
proposed tax will be levied on all transactions involving supply of goods
and services, except those which are kept out of its preview.

The salient features of GST are as under:

(i) The GST would be applicable on the supply of goods or services as against
the present concept of tax on the manufacture and sale of goods or
provision of services. It would be a destination based consumption tax.

(ii) It would be a dual GST with the Center and States simultaneously levying it
on a common tax base. The GST to be levied by the Center on intrastate
supply of goods and / or services would be called the Central GST (CGST)
and that to be levied by the States would be called the State GST (SGST).

(iii)The GST would apply to all goods other than alcoholic liquor for human
consumption and five petroleum products, viz. petroleum crude, motor
spirit (petrol), high speed diesel, natural gas and aviation turbine fuel. It
would apply to all services barring a few to be specified

(iv) Tobacco and tobacco products would be subject to GST.

(v) There would be a floor rate with a small band of rates within which the
States may fix the rates for SGST.

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 Benefits of GST

(A) Make in India

 Will help to create a unified common national market for India, giving a boost to
Foreign investment and “Make in India” campaign
 Will prevent cascading of taxes as Input Tax Credit will be available across goods and
services at every stage of supply;
 Harmonization of laws, procedures and rates of tax;

 It will boost export and manufacturing activity, generate more employment and thus
increase GDP with gainful employment leading to substantive economic growth;
 Ultimately it will help in poverty eradication by generating more employment and
more financial resources;
 More efficient neutralization of taxes especially for exports thereby making our
products more competitive in the international market and give boost to Indian
Exports;
 Improve the overall investment climate in the country which will naturally benefit the
development in the states;
 Uniform SGST and IGST rates will reduce the incentive for evasion by eliminating
rate arbitrage between neighboring States and that between intro and inter-state
sales;

(B) Ease of Doing Business

 Simpler tax regime with fewer exemptions;

 Reductions in the multiplicity of taxes that are at present governing our indirect tax
system leading to simplification and uniformity;
 Reduction in compliance costs - No multiple record keeping for a variety of taxes - so
lesser investment of resources and manpower in maintaining records;

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  Simplified and automated procedures for various processes such as registration,
returns, refunds, tax payments, etc;
 All interaction to be through the common GSTN portal- so less public interface
between the taxpayer and the tax administration
 Will improve environment of compliance as all returns to be filed online, input credits
to be verified online, encouraging more paper trail of transactions;
Common procedures for registration of taxpayers, refund of taxes, uniform formats
of tax return, common tax
 Electronic matching of input tax credits all-across India thus making the process
more transparent and accountable.

(C) Benefit to Consumers:

 Final price of goods is expected to be lower due to seamless flow of input tax
credit between the manufacturer, retailer and service supplier;
 It is expected that a relatively large segment of small retailers will be either
exempted from tax or will suffer very low tax rates under a compounding scheme-
purchases from such entities will cost less for the consumers;
 Average tax burden on companies is likely to come down which is expected to reduce
prices and lower prices mean more consumption.

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 Opportunities of GST

1. An end to cascading effects

This will be the major contribution of GST for the business and commerce. At
present, there are different state level and center level indirect tax levies that are
compulsory one after another on the supply chain till the time of its utilization.

2 Growth of Revenue in States and Union

It is expected that the introduction of GST will increase the tax base but lowers
down the tax rates and also removes the multiple point This, will lead to higher
amount of revenue to both the states and the union.

3 Reduces transaction costs and unnecessary wastage's

If government works in an efficient mode, it may be also possible that a single
registration and single compliance will suffice for both SGST and CGST provided
government produces effective IT infrastructure and integration of such
infrastructure of states level with the union.

4 Eliminates the multiplicity of taxation

One of the great advantages that a taxpayer can expect from GST is elimination
of multiplicity of taxation. The reduction in the number of taxation applicable in a
chain of transaction will help to clean up the current mess that is brought by
existing indirect tax laws.

5 One Point Single Tax

Another feature that GST must hold is it should be ‘one point single taxation’. This
also gives a lot of comforts and confidence to business community that they
would focus on business rather than worrying about other taxation that may crop
at later stage. This will help the business community to decide their supply chain,
pricing moralities and in the long run helps the consumers being goods
competitive as price will no longer be the function of tax components but function
of sheer business intelligence and innovation.

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 6 Reduces average tax burdens
Under GST mechanism, the cost of tax that consumers have to bear will be certain,
and GST would reduce the average tax burdens on the consumers.

7 Reduces the corruption

It is one of the major problems that India is overwhelmed with. We cannot expect
anything substantial unless there exists a political will to root it out. This will be a
step towards corruption free Indian Revenue Service.

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 Impact of Goods and Service Tax

I. Food Industry
The application of GST to food items will have a significant impact on those who
are living under subsistence level. But at the same time, a complete exemption
for food items would drastically shrink the tax base. Food includes grains and
cereals, meat, fish and poultry, milk and dairy products, fruits and vegetables,
candy and confectionery, snacks, prepared meals for home consumption,
restaurant meals and beverages. Even if the food is within the scope of GST, such
sales would largely remain exempt due to small business registration threshold.
Given the exemption of food from CENVAT and 4% VAT on food item, the GST
under a single rate would lead to a doubling of tax burden on food.

II. Housing and Construction Industry

In India, construction and Housing sector need to be included in the GST tax
base because construction sector is a significant contributor to the national
economy.

III. FMCG Sector

Despite of the economic slowdown, India's Fast Moving Consumer Goods (FMCG)
has grown consistently during the past three – four years reaching to $25 billion
at retail sales in 2008. Implementation of proposed GST and opening of Foreign
Direct Investment (F.D.I.) are expected to fuel the growth and raise industry's
size to $95 Billion by 201835.

IV. Rail Sector

There have been suggestions for including the rail sector under the GST umbrella
to bring about significant tax gains and widen the tax net so as to keep overall
GST rate low. This will have the added benefit of ensuring that all inter – state
transportation of goods can be tracked through the proposed information
technology (IT)network.

17
 V. Financial Services
In most of the countries GST is not charged on the financial services. Example, In
New Zealand most of the services covered except financial services as GST. Under
the service tax, India has followed the approach of bringing virtually all financial
services within the ambit of tax where consideration for them is in the form of an
explicit fee.

VI. Information Technology enabled services

To be in sync with the best International practices, domestic supply of software
should also attract G.S.T. on the basis of mode of transaction. Hence if the software
is transferred through electronic form, it should be considered as Intellectual
Property and regarded as a service. And if the software is transmitted on media or
any other tangible property, then it should be treated as goods and subject to G.S.T.
35 According to a FICCI – Technopak Report. Implementation of GST will also help in
uniform, simplified and single point Taxation and thereby reduced prices.

VII. Impact on Small Enterprises

There will be three categories of Small Enterprises in the GST regime. Those below
threshold need not register for the GST
Those between the threshold and composition turnovers will have the option to
pay a turnover based tax or opt to join the GST regime.
Those above threshold limit will need to be within framework of GST Possible
downward changes in the threshold in some States consequent to the introduction of
GST may result in obligation being created for some dealers. In this case
considerable assistance is desired. In respect of Central GST, the position is slightly
more complex. Small scale units manufacturing specified goods are allowed
exemptions of excise up to Rs. 1.5 Cr ores. These units may be required to register
for payment of GST, may see this as an additional cost.

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 IMPORTANCE

 Will help in reducing tax evasion: All the distributors will prefer purchase
with invoices, because that would give them better profit margins as the
distributor will get credit of all the taxes paid at the previous stage. Currently,
it is the distributor who has to bear the burden of the excise duty. So if the
customer insists on taking the bill, we can presume that the tax evasion
should fall. This will indeed be the biggest advantage of GST.

 Removal of location bias approach: GST would help to even out the tax
structures across various states, omitting location bias. As taxes should not be
a hindrance to the investment decision of an individual, introduction of GST
would help an investor to put up business units in any state without the worry
of tax difference. This would boost the business in undeveloped locations as
well.

 Lesser incentive for tax evasion: Currently, taxes are being paid on the
entire underlying value of a product or service, but with GST, companies will
have to pay tax only on the value-addition. This would lead to reduction in the
actual tax paid and also decrease the incentive for evasion.

 Unified market: With the implementation of GST, there will be cut down of
individual taxes imposed by the central government as well by the states. This
would lead to a unified market and would boost the movement of goods
across states with drop in the business costs.

 Increase in State revenues: GST will expand the tax base and thereby
lead to increase in the revenues available at the states’ and centre’s disposal.
This would thereby help in increasing the resources of the poorer / consumer
states like, Bihar, Uttar Pradesh and Madhya Pradesh will increase
substantially.

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 Improvement in tax governance: GST would improve tax governance in
two ways. One it is related to self-policing incentive inherent to a valued-
added tax that can work very powerfully in the GST. The second relates to the
dual monitoring structure of GST, one by the States and the other by the
Centre.

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 SWOT Analysis

Strengths

 GST provides a comprehensive and a wider coverage of input credit set

off service tax credit could be used for the payment of tax on the sale of
goods etc.

 A single GST could be used instead of other indirect taxes at the

state and central level.

 It would end the cascading effects.

 There would be uniformity of tax rates across the states.

 It ensures better compliance as the aggregate tax reduces.

 It helps in the reduction of prices of the goods and services to the

consumer with the reduction of tax.

 It would reduce transaction costs and unnecessary wastage to both

government and individuals.

 It encourages transparency and unbiased tax structure.

 It brings efficiency in the indirect tax mechanism.

Weaknesses

 It doesn’t include alcohol and petroleum products which would lead

to incurring of huge losses.

 It requires strong IT infrastructure which is not highly developed in India.

 Single GST rate would be high compared to individual indirect tax rate.

21
  In reality, it might result in a dual tax system in which both state and the
Centre would collect tax separately.

 Dealers paying VAT in the state will be required to pay GST at the Centre

 Sudden implementation of GST might create confusion to the common man.

Opportunities

 Reduction in tax burden will increase the competitiveness of Indian

products in the international market

 There would be a gradual increase in the revenues of state and the union

 Helps reducing corruption as the implementation of GST would result in

a gradual decrease of procedures and formalities

Threats

 It is entirely dependent on the efficiency and effectiveness of the system

 Beneficiaries of the system are uncertain. It could be either state or

the Centre. This would create a chaos while preparing budgets and
financing polices
 Lack of co-ordination between the Centre and the state might affect
the system and also the revenues generated

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Registration Eligibility Criteria’s

 Turnover Criteria
“Aggregate turnover” means the aggregate value of all taxable supplies
(excluding the value of inward supplies on which tax is payable by a person on
reverse charge basis), exempt supplies, exports of goods or services or both
and inter-State supplies of persons having the same Permanent Account
Number, to be computed on all India basis but excludes central tax, State tax,
Union territory tax, integrated tax and cess.
If an entity has an aggregate turnover of more than Rs.20 lakhs, GST
registration is mandatory. In special category state, the annual aggregate
turnover threshold for GST registration is Rs.10 lakhs.

 Inter-State Supply
If a supplier of goods supplies goods from one state to another, he/she would
become liable for obtaining GST registration, even if the annual aggregate
turnover criteria is not satisfied. Earlier, GST registration was mandatory even
for suppliers of services when then provided inter-state supply. However, the
GST Council later amended the regulation and now, service providers can
provide services of upto Rs.20 lakhs inter-state or intra-state before having to
obtain GST registration.

 Supply through E-Commerce Platforms

Any person who supplies goods or services through an e-commerce platform
is required to obtain GST registration mandatorily irrespective fo turnover.
Hence, sellers on Flipkart, Amazon and other e-commerce platforms must
obtain registration to commence activity.

 Causal Taxable Persons

Any person who undertakes supply of goods or services periodically or
through a temporary stall or shop must obtain GST registration mandatory,
irrespective fo annual aggregate turnover.

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 Voluntary Registration
In addition to the above, any person can obtain GST registration voluntarily
irrespective of turnover or any other criteria. Earlier, any person who obtained
voluntary GST registration was not allowed to surrender the registration for
upto a year. However, thisprovision has been modified and now, voluntary
GST registration can be surrendered by the applicant at anytime.

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GST Registration Types
There are various types of GST registration provided under the GST Act. While
applying for a GST registration, the taxpayer must be aware of the distinctions
between the registration and select the right one.

Normal Taxpayer
This category of GST registration will be applicable for most of the taxpayer who are
running a business in India. To obtain normal taxpayer GST registration, the
application would not have to pay a deposit. Also, a registration provided under the
normal category will not have an expiry date.

Composition Taxpayer
This type of GST registration can be obtained for those wishing to enroll under
the GST Composition Scheme. Taxpayers enrolled under the Composition Scheme
can pay a flat GST rate. However, the taxpayer would not be allowed to claim input
tax credit.

Casual Taxable Person

Casual Taxable Person GST registration can be obtained by those proposing to setup
a stall or seasonal shop. To obtain a casual taxable person registration, the taxpayer
must deposit an advance equal to the amount of GST liability expected during the
period in which the GST registration would be active. Casual taxable person
registration is normally provided for a period of upto 3 months and can be renewed
or extended.

Non-Resident Taxable Person

Non-resident taxable person GST registration can be obtained by any person located
outside of India who is supplying goods or services to residents in India. To
obtain non-resident taxable person GST registration, the taxpayer must deposit an
advance equal to the amount of GST liability expected during the period in which the
GST registration would be active. Non-resident taxable person GST registration is
normally provided for a period of upto 3 months and can be renewed or extended.

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Goods and Services Tax Network (GSTN)

Goods and Services Tax Network has been set up by the Government as a private
company under erstwhile Section 25 of the Companies Act, 1956. GSTN would
provide three front end services, namely Registration, Payment and Return to
taxpayers. It will also assist some State with the development of back end
modules.

GSTIN

Goods and Services Identification Number is a 15 digit alphanumeric number. First

two digit shows the State code,

Another ten digit shows the Permanent Account Number (PAN).

Next number shows the entity number of the same PAN holder in a state. Next is
alphabet Z by default.

Next is the check sum digit.

GST Identification Number

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

State PAN Entity Code/

code Check digit

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DOCUMENTS REQUIRED FOR REGISTRATION

Proof of Constitution
of Business (Any One)
Certificate of Incorporation

Photo of Stakeholder
(Promoter / Partner)
Photo of the Promoter/ Partner

Photo of the
Authorised Signatory
Photo

Proof of Appointment Letter of Authorization

of Authorised
Signatory (Any One)

Copy of Resolution passed by Bod/ Managing

Committee and Acceptance letter

Electricity Bill

Proof of Principal Place Legal ownership document

of business (Any One)
Municipal Khata Copy

Property Tax Receipt

27
GST Registration Procedure

GST registration can be done online through the GST Portal. On submission of a GST
registration application, GST ARN is provided immediately. Using the GST ARN, the
application status can be checked and queries if any can be replied by the applicant.
Within 7 days of ARN generation, the taxpayer would receive GST registration
certificate and GSTIN.
Step 1: Go to the GST Portal

1. Access the GST Portal ->https://www.gst.gov.in/

2. Click on Services -> Registration > New Registration option.

GST Registration – Step 1

Step 2: Generate a TRN by Completing OTP Validation

The new GST registration page is displayed. Select the New Registration option. In
case you left a GST registration application without completing, the section TRN
number option can be used to continue to fill the old application.

1. In the drop down list, select the Taxpayer type from the options provided.
2. In the State/UT and District drop down list, select the state for which GST
registration is required and district.
3. In the Legal Name of the Business (As mentioned in PAN) field, enter the legal
name of your business/ entity as mentioned in the PAN database. There will
be an automated check with the PAN database. Hence, ensure the name is
the same as in PAN. In case a wrong name is mentioned in PAN, apply for
correction of PAN first.

28
4. In the Permanent Account Number (PAN) field, enter PAN of your business or
PAN of the Proprietor. GST registration is linked to PAN. Hence, in case of
company or LLP, enter the PAN of the company or LLP.
5. In the Email Address field, enter the email address of the Primary Authorized
Signatory. (Will be verified in next step)
6. In the Mobile Number field, enter the valid Indian mobile number of the
Primary Authorized Signatory. (Will be verified in next step)
7. Click the PROCEED button.

GST Registration – Step 2

29
Step 3: OTP Verification & TRN Generation

On submission of the above information, the OTP Verification page is displayed. OTP
will be valid only for 10 minutes. Hence, enter the two separate OTP sent to validate
email and mobile number.

 In the Mobile OTP field, enter the OTP you received on your mobile number.
 In the Email OTP field, enter the OTP you received on your email address.

Step 4: TRN Generated

On successfully completing OTP verification, a TRN will be generated. TRN will now
be used to complete and submit the GST registration application.

GST Registration – Step 3

Step 5: Login with TRN

Now that TRN is generated, you can begin the GST registration process. In
the Temporary Reference Number (TRN) field on the GST Portal, enter the TRN
generated and enter the captcha text as shown on the screen. Complete the OTP
verification on mobile and email. You will now be taken to the GST registration page
shown below:

30
GST Registration – Step 4
Click on the icon marked in red to start the GST registration process.

Step 6: Submit Business Information

Various information must be submitted for obtaining GST registration. In the first
tab, business details must be submitted.

 In the Trade Name field, enter the trade name of your business.
 Input the Constitution of the Business from the drop-down list.
 Enter the District and Sector/ Circle / Ward / Charge/ Unit from the drop-down
list.
 In the Commissionerate Code, Division Code and Range Code drop-down list,
select the appropriate choice.
 Select if you would like to opt for the Composition Scheme.
 Input the date of commencement of business.

Select the Date on which liability to register arises. This is the day the business
crossed the aggregate turnover threshold for GST registration. Taxpayers are
required to file the application for new GST registration within 30 days from the date
on which the liability to register arises.

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GST Registration – Business Information

32
Step 7: Submit Promoter Information

In the next tab, details of the promoters of the business must be submitted. In case
of a company, the directors information must be submitted. In case
of proprietorship, the proprietors information must be submitted. Details of upto 10
Promoters or Partners can be submitted in a GST registration application.

The following details must be submitted for the promoters:

 Personal details of the stakeholder like name, date of birth, address, mobile
number, email address and gender.
 Designation of promoter.
 DIN of the Promoter, only for the following types of applicants:
o Private Limited Company
o Public Limited Company
o Public Sector Undertaking
o Unlimited Company
o Foreign Company registered in India
 Details of citizenship
 PAN & Aadhar
 Residential address.
 Photo of promoter.
 In case the applicant provides Aadhar, aadhar e-sign can be used for signing
the GST returns instead of a digital signature.

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GST Registration – 34
Promoter Information
Step 8: Submit Authorised Signatory Information

The authorised signatory is a person nominated by the promoters of the company to

be responsible for filing GST returns of the company and maintaining the necessary
compliance. The authorised signatory will have full access to the GST Portal and will
be able to undertake a wide range of transactions on behalf of the promoters. The
promoter of a company can also be an authorised signatory.

In case a promoter was selected as an authorised signatory in the previous section,

this section will be auto-populated with the relevant details. The details required for
authorised signatory is same as that of the promoters.

Step 9: Principal Place of Business

In this section, the details of principal place of business must be provided by the
applicant. The Principal Place of Business is the primary location within the State
where a taxpayer’s business is performed. The principal place of business is generally
the address where the business’s books of accounts and records are kept and is
often where the head of the firm or at least top management is located. Hence, in
case of company or LLP, the principal place of business would be the registered
office.

For the principal place of business enter the following:

 Enter the address details of the principal place of business.

 Enter the official contact details like Email address, telephone number (with
STD Code), mobile number field and fax number (with STD Code).
 Select the nature of possession of the premises.

If the principal place of business is located in SEZ or the applicant is SEZ developer,
necessary documents/ certificates issued by Government of India are required to be
uploaded by choosing ‘Others’ value in Nature of possession of premises drop-down
and upload the document.
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In this section you will have to upload documents to provide proof of ownership or
occupancy of the property as follows:

For Own premises – Any document in support of the ownership of the

premises like Latest Property Tax Receipt or Municipal Khata copy or copy of
Electricity Bill.

 For Rented or Leased premises – A copy of the valid Rent / Lease Agreement
with any document in support of the ownership of the premises of the Lessor
like Latest Property Tax Receipt or Municipal Khata copy or copy of Electricity
Bill.
 For premises not covered above – A copy of the Consent Letter with any
document in support of the ownership of the premises of the Consenter like
Municipal Khata copy or Electricity Bill copy. For shared properties also, the
same documents may be uploaded.

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GST Registration – Place of Business

37
Step 10: Additional Place of Business

In case you have additional place of business, enter details of the property in this
tab. For instance, if you are a seller on flipkart or other ecommerce portal and use
the sellers warehouse, that location can be added as an additional place of business.

Step 11: Details of Goods and Services

In this section, the taxpayer must provide details of top 5 goods and services
supplied by the applicant. This is just an indicative list and the business of the
applicant will not be restricted in any way to the goods and services mentioned in
this part.

For goods supplied, provide the HSN code and for services, provide SAC code. In
case, you have more than 5 goods or services, you can add the top 5 goods or
services you are dealing with.

Click here to find HSN code and SAC code.

GST Registration – Goods & Services Supplied

38
Step 12: Details of Bank Account

In this section, enter the number of bank accounts held by the applicant. If there are
5 accounts, enter 5. Then provide details of the bank account like account number,
IFSC code and type of account. Finally, upload a copy of the bank statement or
passbook in the place provided.

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Step 13: Verification of Application

In this step verify the details submitted in the application before submission. Once
verification is complete, select the verification checkbox. In the Name of Authorized
Signatory drop-down list, select the name of authorized signatory. Enter the place
from where the form is filled. Finally, digitally sign the application using Digital
Signature Certificate (DSC)/ E-Signature or EVC. Digitally signing using DSC is
mandatory in case of LLP and Companies.

Step 14: ARN Generated

On signing the application, the success message is displayed. You will receive the
acknowledgement in next 15 minutes on your registered e-mail address and mobile
phone number. Application Reference Number (ARN) receipt is sent on your e-mail
address and mobile phone number. Using the GST ARN Number, you can track the
status of your GST registration application.

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GST Rate Slab For Essential Items

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44
Trending News On GST

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46
 Company Profile

About Abhay Pratap & Associates

We are an Indian chartered accountant firm based in below Union Bank Jhansi.
We provide all sort of chartered accountant services related to Accounting,
Auditing, Income Tax, Financial Services, Company Law Matters, Foreign
Collaborations, Import-Export Consultancy, Sales Tax / Vat Matte, Service Tax,
STPL, Transfer Pricing related matters etc. In order to meet the specific
requirements of the clients, we provide the best possible solution and
consultancy for their respective matters. With the active support we receive from
our competent team of professionals, we have manage to provide the effective
services to our various esteemed clients.

Head office

1st Floor Above Laziz Pizza,

Near Bluebells School,

Civil Lines, Jhansi.

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 Result Analysis

(Before And After GST)

Effect on IT Industrial

M&G LTD.

Software for school uses 9500 9500

Service Tax (14%) 1330 ---
GST (5%) - 475
Grand Total 10830 9975

Effect on Spare Parts Price

Motor vehicle spare parts

Price Per
Names Qt Unit Total Price
Throttle Body Cleaning 5 750 3750 3750
AC Disinfectant 4 700 2800 2800
AC Servicing of Maruti Car
Including Gas Refill
and Labour Charges 10 2500 25000 25000

Sub-Total 31550 31550

Sales Tax (14.5%) 4574.8 ---
Surcharges (2%) 631 ---
GST (12%) --- 3786
Grand Total 36756 35286
figure 4.5: Effect on Automobile Product Price
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Effect on mobile company

Net Net
Amount Amount
Description Qt MRP VAT/CST KKC (exclusiv (in GST)
e
of
taxes)
Redmi 3S Grey 1 8.999 5.50% --- 8530 8530
32G
Mi Protect 1 599 14.50% 0.50% 521 521
Sub Total 9051 9051

VAT/CST 469 ---

ST 76 ---
GST (18%) --- 1629
KKC 3 -
Grand Total 9598 10680
figure 4.6: Effect on Mobile Rates

Effect on LED T.V. Price

SONY BRAVIA 32" KLV 32R306

Price (exclusive tax) 20700 20700

Sales Tax (14.5%) 3001.5 ---

GST (18%) --- 3726

Grand Total 23701.5 24426

figure 4.4:Effect on Home use Product Rates

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Effect on Manufactory Industrial

Whirlpool 6.5 kg Fully Automatic Top Load

Washing Machine
Price (exclusive Tax) 15490 15490
Sales Tax (14.5%) 2168.6 ---

GST (12%) --- 1858.8

Grand Total 17658.6 17348.8

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 Conclusion

It can be concluded from the above discussion that GST will provide relief to
producers and consumers by providing wide and comprehensive coverage of input
tax credit set-off, service tax set off and subsuming the several taxes. Efficient
formulation of GST will lead to resource and revenue gain for both Centre and
States majorly through widening of tax base and improvement in tax compliance.
It can be further concluded that GST have a positive impact on various sectors and
industry. Centre has decided to review the existing exemptions from Central
Excise Duty so that list of goods exempt from CGST and SGST list and 99 items
exempted from VAT are taken off from both the components of GST. VAT has to
some extent reduced tax-evasion and frauds. It is encouraging to note that most
of the traders and general public are aware of VAT. GST, the major reforms on
indirect taxes, will reduce tax burden due to cascading effect. The efficiency in
tax administration will be improved, indirect tax revenue will be increased
considerably due to inclusion of more goods and services, and at last the cost of
compliance will be reduced for the dealers. The implementation of GST will be in
favor of free flow of trade and commerce throughout the country. This single most
important tax reform initiative by the Government of India since independence
provides a significant fillip to the investment and growth of our country’s
economy. To get the desired result, it should be assured that the benefit of input
credit is ultimately enjoyed by final consumers. Although implementation of
GST requires concentrated efforts of all stake holders namely, Central and State
Government, trade and industry. GST effect the indirect taxation systems and help
reduce the burden on tax payer. GST help to reduce the burden of record make
and file maintain. Because GST cover 10-12 Tax. GST reduce the price of
various goods and increase the sale. After the implementation of GST indirect
taxation systems will remove and it easy to all tax payer to pay the tax to
government. Efficient formulation of GST will lead to resource and revenue gain
for both Centre and States majorly through widening of tax base and
improvement in tax compliance.

51
It can be further concluded that GST have a positive impact on various sectors and
industry. Although implementation of GST requires concentrated efforts of all stake
holders namely, Central and State Government, trade and industry.

52
 Reference

 www.gst.gov.in

 www.gstn.org

 www.gstcouncil.gov.in

 www.cbec.gov.in

 www.financialexpress.com

 www.wikipedia.com

 www.cleartax.com

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